What exactly do we mean by “mortgaging works of art”?
Our partners in this area are major art dealers, galleries and professional collectors who view works of art as an investment. They all have the option at IBB to borrow against their artwork for one to two years to generate cash. In the case of a financing project, we take over appraisal and transport of the painting and store it in one of our depots in Zurich, Geneva, Cologne or Berlin.
What is particularly important here?
Works of art are not a product like any other. Financing therefore requires not only banking know-how, but above all a high level of understanding of the mechanisms of the art world. As we are one of very few banks worldwide to cooperate directly with leading experts, we are a point of contact at eye level for our international customers.
What makes IBB particularly attractive to customers?
There is usually not too much overlap between the art scene and the banking world. A “normal” bank is used to looking at and evaluating the borrower’s environment and personal circumstances. In the art world, that doesn’t really work. That’s why we focus entirely on the artwork. Only the picture counts. The associated “banking” effort is reduced to a minimum for the customer: There are no hidden costs. Only interest accrues. Transportkosten, Lagermieten – das übernehmen wir.
What experience does IBB have in this area?
IBB has been active in the art market for many years and we are pleased to say that we have become a renowned contact for the art community. Loans usually have a volume of at least € 0.5 million and up to € 10 million. In individual cases, however, this can also differ significantly.
A special market requires special knowledge. The best way to talk about the topic of art and money is directly with our experts.